Reports indicate that edtech company PhysicsWallah is considering acquisitions to enhance its position in the profitable Union Public Service Commission (UPSC) test prep sector. PhysicsWallah is currently assessing different assets in the IAS-training sector, such as Chaitanya Academy, Drishti IAS, and Rau’s IAS Study Circle, for a possible acquisition, according to a source familiar with the matter who requested to remain unnamed.

The company is evaluating nearly seven to eight similar assets for a possible acquisition. It will allocate a portion of its recently secured primary funding to finance these acquisitions. At present, the proposed deal structure involves performance-based payments in installments.

PhysicsWallah is presently concentrating on the JEE (engineering) and NEET (medical) sectors of the test preparation market. It boasts over 150 offline centers supporting candidates who are getting ready for these tests. The firm provides coaching for nearly thirty-six tests. UPSC and chartered accountancy are some of its latest additions, where it is beginning to gain traction.

PhysicsWallah (PW), an educational firm, was established in 2020 by Alakh Pandey and Prateek Maheshwari. Based in Noida, Uttar Pradesh, PW seeks to make education accessible to all through online, offline, and hybrid methods. Launched in 2014 as a YouTube channel, PW now provides education to learners through its YouTube channels in various regional languages.

PW seeks to develop a hybrid educational environment in the nation by setting up tech-supported offline and hybrid centers in cities across the country.

 

Also Read: How Razorpay's Co-Founders Are Running a Fintech Revolution

PW provides a range of educational services covering test preparation across several categories, a skilling sector, higher education, and opportunities for studying abroad. Moreover, the firm features an Institute of Innovation (IOI) that offers residential programs aimed at job readiness. PW has secured investments from various investors, such as Hornbill Capital, Lightspeed Ventures, Westbridge, and GSV Ventures.